Scrap Goats: The Democrats have suffered “another electoral drubbing at the hands of the most cartoonishly evil, corrupt, inept gang of thugs politics has served up since” the last time the same bunch beat them about the head and shoulders. And they are shocked, shocked that the electorate – which is overwhelmingly liberal on most issues – rejected them, just because they no longer remember what they stand for. The reasons the Democrats were crushed and the lessons they'll draw from their defeats are not the same things. They're not even distantly related. “It's a basic truth in life that when everybody you meet is an asshole, it's time to look in the mirror.” The people need a party.
The Price of Oil: Europe’s bond yields are the lowest they've been since the15th century because of deflation in the EU. The EU itself has cut its Eurozone GDP forecast and Goldman Sacs flat calls it a recession. And the price of oil collapses due to overproduction...
The Four Horsemen: With a purportedly straight face it has been announced that Saudi Arabia, Egypt, Kuwait and the UAE are going to form a military force that will “deal with extremists” and bring democracy to the region – one stoning, beheading or hanging at a time. ISIS is a sideshow, this is the main event as these dictatorships try to maintain their power. This does not end well.
Thoughtful Experiment: What if real interest rates are ultimately determined not by anything the Fed does, but by the natural forces of supply and demand? Y'know, basic economic s– if there's no demand for a product, making more of it doesn't make it any more attractive, even if the 'product' is money.
Good Neighbor Policy: The Canadian Mounties are planning a $92 million 700 kilometer fence along the US/Canadian border. To keep out the undesirables. They claim it has nothing to do with the outcome of the our elections.
NewSpeak: The FCC is planning on defining “net neutrality” so as to permit internet providers like Verizon to provide relatively affordable 'neutral' (ie slow) services and speedier, non-neutral services for bunches of money. That Verizon threatened a host of lawsuits had nothing to do with this new-found wisdom. Nothing.
Disaster Capitalism: The Republican takeover of the US Senate is expected to lead to new feeding frenzy on Wall Street.
This End Up: Why does one investment outperform another? Economists and investment firms have been studying this for centuries. But it turns out that the majority of papers in financial economics are wrong. The takeaway is this: “some investment managers will appear to outperform — purely by luck.”
Tidbit: Did you know that annulments in the Catholic church are sold? For thousands of dollars? The Pope, anti-capitalist Jesus lover that he is, wants to offer no-cost (and sin free?) annulments.
Quoted: “The court finds that Secular Humanism is a religion for Establishment Clause purposes,” Senior District Judge Ancer Haggert, Federal District Court, Oregon
Porn O'Graph: Vox Populi